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Hana to seek more M&As overseas

Nation’s No. 3 financial group unveils this year's growth strategies

By Im Eun-byel

Published : Jan. 29, 2023 - 15:35

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Hana Financial Group Chairman Ham Young-joo (fifth from left) and the group's top executives attend an event at Kyung Hee University in Seoul on Saturday. (Hana Financial Group) Hana Financial Group Chairman Ham Young-joo (fifth from left) and the group's top executives attend an event at Kyung Hee University in Seoul on Saturday. (Hana Financial Group)

Hana Financial Group has announced plans to strengthen the company's global and digital sectors, while improving financial services in 2023.

The financial holding firm, whose business spans from bank and card services to securities, shared its vision for the new year at an event held at Kyung Hee University in Seoul on Saturday.

More than 4,000 employees from 15 affiliates -- including Hana Bank, Hana Securities, Hana Card and Hana Capital -- took part in the event, with Chairman Ham Young-joo and other top executives in attendance. The in-person event was held for the first time in four years since the onset of the COVID-19 pandemic.

"Hana Financial Group is now truly the best financial group in Korea, with 1,100 (branches and offices) in and out of the nation and some 21,000 talented employees pursuing their dreams," said Ham, who took the helm of the nation’s third-largest financial group last year.

"Let's reach our goal of becoming Asia's top financial company in 2023 with the group gathering under the motto of 'one spirit,'" he said.

In 2023, the group will focus on strengthening its global competitiveness, providing differentiated services at its 208 branches and offices in the Asia-Pacific region, North America to Europe and the Middle East under affiliates Hana Bank and Hana Securities.

It also plans to expand business overseas through mergers and acquisitions and stake purchases while offering localized digital finance services. Chairman Ham has been mentioning the need for active M&As since he took office last year, hoping to expand the firm in the finance sector.

For digital transformation, the group called for a paradigm shift, saying it will cooperate with big tech firms, rather than competing with them.

The group had previously said it will prioritize digital transformation amid toughening rivalry with big tech firms such as Naver and Kakao, whose influence continues to deepen in the digital finance sector.

The firm also plans to create an innovative financial model through partnering with nonfinancial businesses.

Domestically, Hana Financial Group will also work on strengthening transactions with local businesses and introduce an advanced private banking model by digitalizing the wealth management service currently offered online. An integrated total asset management solution for individuals, families and businesses is also in the pipeline.

The financial firm said encouraging internal communication and creating synergy are also important agenda items for this year.